NSE/CUMMINSIND

CUMMINSINDCummins India Ltd

Capital Goods · NSE

₹5,140.9+2.04%

52-wk low52-WEEK RANGE52-wk high

₹2,736.3+87.9% from low ·0.0% from high₹5,140.9

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

CUMMINSIND+84.83% · 1Y

Range high ₹5,179.9Range low ₹2,690Latest ₹5,140.9252 bars · daily-close · NSE bhavcopy + 10Y history

Capital GoodsSpecialty Industrial MachineryLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite63/100

Performance

High

Amongst the strong performers in the market.

· 52w return +76.4% — strong momentum
· Trades 21.5% above 200-DMA — uptrend intact

Valuation

High

Looks expensive vs the sector.

· P/E 63.7 — 25% above sector median 50.8
· P/B 18.06 above sector median

Growth

Medium

Steady but not standout growth.

· Revenue YoY +16.0%
· Profit YoY +10.8%

Profitability

High

Showing good signs of profitability & efficiency.

· ROE 28.3% — high-quality compounder
· Net margin 18.3% — strong pricing power

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeB(67/100)

Durability

81/100

Financially resilient — strong quality + solvency profile.

Show 4 drivers

Piotroski F-score4/9 (44pt)
Altman Z" score6.95 (100pt)
Debt/Equity0.00 (100pt)
ROE28.3% (100pt)

Valuation

25/100

Richly valued on most axes; limited margin of safety.

Show 4 drivers

P/E vs sector (63.7 / 50.8)125% (45pt)
P/B18.06 (8pt)
Dividend yield1.04% (26pt)
EV/EBITDA50.7 (0pt)

Momentum

A+

96/100

Strong, confirmed momentum across price + technicals.

Show 5 drivers

52w change+76.4% (100pt)
DMA-trend alignmentstrong up (100pt)
RSI (14)64.7 (90pt)
Price vs 200-DMA+22.9% (100pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)63.74

FAIR

CheapestP/E 63.7 near sector median.Most expensive

P/B18.06

OVERVALUED

CheapestP/B 18.06 at 95th %ile of sector.Most expensive

EV/EBITDA50.73

OVERVALUED

Monthly seasonality

Avg monthly return over 10 years · historical — not a forecast

Best: Nov +5.09% · Worst: Sep -1.36%

Jan

+1.8%

70% win

Feb

+3.3%

60% win

Mar

+1.6%

70% win

Apr

+2.6%

50% win

May

+1.1%

40% win

Jun

+3.7%

Monthly return distribution

Distribution of 120 monthly returns

Mean

+1.94%

Median

+1.44%

Std dev

9.62%

Best

+35.0%

Worst

-36.1%

% positive

54%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 5

High-quality compounder (ROE 28.3%)
Above 20% ROE consistently flags capital-efficient businesses
Lean balance sheet (D/E 0.00)
Low leverage means earnings are less sensitive to rate cycles
Consistent top-line growth (19.1% 3Y CAGR)
Sustained revenue compounding is rare and hard to fake
Strong net margin (18.3%)
High margin indicates pricing power + operating efficiency
Bankruptcy risk low (Altman Z″ 6.95)
Z″ above 2.60 sits squarely in the 'safe' zone

WEAKNESSES · 1

Premium to sector on P/E (+25%)
P/E 63.7 vs Capital Goods median 50.8

OPPORTUNITIES · 1

Strong uptrend — DMA stack bullish
Price > 20-DMA > 50-DMA > 200-DMA: momentum tailwind intact

THREATS · 0

No immediate threats from the data

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+2.0%

+0.0%

+10.6%

+24.8%

+33.6%

+87.2%

+45.1%

+42.0%

10Y

+18.9%

Fundamentals

VALUATION

Market cap

₹1,42,614 Cr

P/E (TTM)

63.7

P/E (fwd)

51.7

next 12m

P/B

18.06

EV/EBITDA

50.7

Book value

₹284.81

per share

PROFITABILITY · QUALITY

ROE

28.3%

ROCE

—

Net margin

18.3%

Op margin

22.9%

Gross margin

36.8%

D/E

0.00

GROWTH · MARKET

Rev YoY

+16.0%

Profit YoY

+10.8%

Div yield

1.04%

Payout

63.7%

52w change

+76.4%

Beta

0.45

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 5

+Forward P/E materially below trailing (51.7x vs 63.7x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+High ROE of 28.3%Capital-efficient business — every rupee of equity generates 28.3 paise of earnings
+Strong operating margin (22.9%)Meaningful pricing power or cost discipline — above many Indian companies
+3-year revenue CAGR of 19.1%Sustained multi-year growth — not a one-quarter flash
+3-year profit CAGR of 28.9%Consistently compounding earnings — the Buffett playbook

CONS · 3

−Trades at a premium to sector on P/EP/E 63.7 vs Capital Goods median 50.8 — priced for more growth than peers
−Very high absolute P/E (64x)

Sector-relative context

Capital Goods · 22 peers

P/E (TTM)

This stock

63.74

Sector median

50.82

Rank 14/22 (41th %ile)

ROE

This stock

28.3%

Sector median

15.5%

Rank 21/22 (9th %ile)

P/B

This stock

18.06

Sector median

6.90

Rank 21/22 (9th %ile)

Quality score · Piotroski F-score

4 / 9

Mixed quality — several weak points

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✗Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✗Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✗ROA improved YoY· Getting more productive with the asset base
✗Operating margin expanded YoY· Pricing power or cost discipline
✗Asset turnover improved YoY

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

SAFE6.95

Z″ = 6.95 — well inside the SAFE zone. Low bankruptcy risk signal across liquidity, profitability and solvency inputs.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.473	×6.56	3.104
Retained Earnings / Total Assets (B)	0.553	×3.26	1.802
EBIT / Total Assets (C)	0.105	×6.72	0.706
Book Equity / Total Liabilities (D)	1.276	×1.05	1.340

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

22 analysts · BUY

Target mean

₹4696.45

Target high

₹5500.00

Target low

₹3400.00

Upside vs today

-8.7%

Street consensus target is -8.7% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Specialty Industrial Machinery

Employees

3,025

Shares out

27.7

Revenue (TTM)

₹11,602 Cr

EBITDA

₹2,744 Cr

Total debt

₹24 Cr

Cash

₹3,365 Cr

Net debt

₹-3,341 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	2,465	3,052	2,428	2,859	3,006
Operating profit	439	548	478	576	584
OPM %	17.8%	18.0%	19.7%	20.1%	19.4%
Interest	3	3

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	6,057	7,641	8,860	10,219
Operating profit	748	1,107	1,611	1,895
OPM %	12.3%	14.5%	18.2%	18.5%
Interest	12	16	27	16

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
CUMMINSINDTHIS Cummins India Limited	₹5,140.9	+76.4%	1,42,614	63.7	18.06	28.3%	0.00	+16.0%
ABB ABB India Limited	₹7,029.5	+24.9%	1,51,693	90.9	19.36	22.4%	0.01	+5.7%
SIEMENS Siemens Limited	₹3,707.9	+31.2%	1,32,085	78.2	9.98	11.8%	—	+14.0%
CGPOWER CG Power and Industrial Solutions Limited	₹774.8	+19.1%	1,25,316	110.4	16.80	15.2%	0.01	+26.2%
POLYCAB Polycab India Limited	₹8,182.5	+51.2%	1,23,852	47.2	11.03	26.0%	0.02	+24.2%
BHEL Bharat Heavy Electricals Limited	₹316.79	+39.4%	1,14,769	140.9	4.69	3.3%	0.45	+18.6%
HAVELLS Havells India Limited	₹1,306.4	-20.7%	81,675	55.1	9.41	17.1%	0.03	+14.3%
DIXON Dixon Technologies (India) Limited	₹11,371.5	-28.1%	68,387	41.1	15.02	36.5%	0.30	+119.7%
APARINDS Apar Industries Limited	₹11,482	+130.7%	46,696	48.0	9.62	20.1%	0.14	+15.0%

ASK AXEL

Dig deeper into CUMMINSIND

Axel can fetch latest news, peer valuation, consensus estimates, insider activity, and concall commentary for CUMMINSIND — all in one sourced reply.

Ask free in chat

Run these tools on CUMMINSIND

Historical return →

"If I had bought CUMMINSIND in year X"

Rolling returns →

Worst/best 1/3/5/7/10-yr windows

Buy-the-dip backtester →

Dip-buying vs SIP on CUMMINSIND

Brokerage + charges →

All-in cost for trading CUMMINSIND

Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	21.76	19.84	-8.8%
-2q	18.41	23.00	+24.9%
-3q	17.67	20.04	+13.4%
-4q	17.61	18.81	+6.8%

Date	Amount
2026-02-11	₹20.00
2025-07-18	₹33.50
2025-02-14	₹18.00
2024-07-19	₹20.00
2024-02-21	₹18.00
2023-07-26	₹13.00
2023-02-21	₹12.00
2022-08-02	₹10.50
2022-02-21	₹8.00
2021-08-04	₹8.00
2021-02-09	₹7.00
2020-08-17	₹7.00
2020-02-07	₹7.00
2019-07-31	₹10.00
2019-02-15	₹7.00
2018-08-02	₹10.00
2018-02-15	₹5.00
2017-07-27	₹9.00
2017-02-09	₹5.00
2016-07-28	₹9.00

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	55	55	55	55
Reserves	3,932	4,540	5,384	6,318
Borrowings	418	376	127	30
Other liabilities	3	3	12	26
Total liabilities	7,112	7,919	8,971	10,168
Fixed assets	1,272	1,261	1,340	1,412
CWIP	84	92	144	120
Investments	—	12	14	15
Other assets	2	1	1	1
Total assets	7,112	7,919	8,971	10,168

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	712	820	1,285	1,685
CF Investing	-586	69	-268	-582
CF Financing	-82	-687	-1,134	-1,168
Net cash flow	56	219	-97	-63
Free cash flow	560	658	997	1,447

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	18.5%	18.2%	14.5%	12.3%
Net margin %	19.6%	19.4%	16.1%	15.4%
ROE %	33.9%	34.3%	28.6%	23.4%
ROCE %	43.6%	42.4%	34.3%	27.7%
Debt / Equity	0.00	0.02	0.08	0.10
Interest coverage	164.6×	81.5×	99.0×	100.3×
Revenue growth YoY	+15.3%	+15.9%	+26.2%	—
Profit growth YoY	+16.2%	+40.1%	+31.5%	—

CUMMINSINDCummins India Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Capital Goods

Ask Axel about CUMMINSIND

Recent news

Dig deeper into CUMMINSIND

Run these tools on CUMMINSIND

Technical snapshot

Earnings history + surprises

Dividends + splits history

Recent news

Stock scorecard

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Peer comparison · Capital Goods

Ratios